Many millennials and first-time homebuyers are delaying homeownership, hoping they’ll eventually receive an inheritance from parents or relatives. With the “Great Wealth Transfer” underway — an estimated $84 trillion expected to shift to younger generations over the coming decades — that idea can feel like a financial strategy.

But relying on an inheritance to achieve homeownership or retirement security is risky. And for many buyers, it’s not realistic.

Here’s why waiting can cost you… and what you can do instead.

 

 

The Pitfalls of Banking on an Inheritance

1. Uncertainty of Timing

Inheritances are unpredictable. You don’t know when you’ll receive one — or if it will come at all. Pausing your life plans for a “maybe someday” often leads to missed opportunities in the housing market.

2. Inherited Homes Come With Major Expenses

Property taxes, homeowners insurance, maintenance, and costly repairs quickly add up. Many young adults feel unprepared to handle the true cost of owning an inherited property — which can make keeping the home financially unrealistic.

3. Inheritance Can Be Complicated

Inherited real estate isn’t always a simple gift. There may be:

  • Multiple heirs
  • Outdated estate documents
  • Probate delays
  • Legal disputes

The property you receive might not fit your lifestyle, location needs, or financial plan.

4. Lost Time = Lost Equity

Every year spent waiting is a year of missed equity growth. Buying a home earlier — even a modest one — allows you to benefit from appreciation, mortgage paydown, and long-term wealth building.

 

 

A Smarter Strategy: Buy Now, Even If You May Inherit Later

Instead of making inheritance your “Plan A,” treat it as a potential bonus.

When you buy a home now, you can:

✅ Build equity
✅ Benefit from home appreciation
✅ Access tax advantages of homeownership
✅ Establish long-term stability
✅ Create flexibility for the future

If an inheritance eventually comes, you can then choose to sell it, rent it, or keep it as an investment — but your financial foundation is already in place.

 

 

How to Prepare for an Inheritance (Without Relying on It)

Even if you might inherit property later, it’s smart to be proactive now:

  • Educate yourself on property taxes, insurance, and estate laws
  • Communicate with family about estate planning
  • Work with professionals like a financial planner, real estate attorney, or tax advisor
  • Start budgeting for potential ownership costs today

This way, you’re never caught off guard — and never stuck in “pause mode.”

 

 

Final Thoughts

Relying on an inheritance can leave millennials waiting on a future they can’t control.

Choosing homeownership today — even if you expect to inherit later — offers stability, equity growth, and real financial freedom. And if that future inheritance does come? It becomes an opportunity, not a requirement.

If you're considering buying in Central Ohio or the Columbus real estate market, a clear plan makes all the difference.

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